Many people now know that, like most European countries, Spain shut down its golden visa program on April 2, 2025. Fewer people know that there are still other visas that you can get if you want to relocate to Spain. One of them is the Spanish entrepreneur visa. Read this post to learn all about it.

‍The benefits of the Spanish entrepreneur visa

Low threshold of required funds

The Spanish Entrepreneur Visa is part of Spain’s goal to encourage international investment in Spain. The Spanish Entrepreneur Visa aims to attract entrepreneurial talent to the country. One of its biggest advantages, for many people, is that it does not require a large capital investment. In fact, if you apply for the visa in Spain, it only requires that you demonstrate you have sufficient financial resources to support yourself for two years. This may seem like a lot, but in reality it is quite low. The Spanish government has a number called the Indicador Público de Renta de Efectos Múltiples (IPRM), which it considers sufficient monthly income to survive. In 2025, this number is 600€, meaning you only have to prove you have 24,000€ in your bank account to be approved for a two year residency permit.

If you apply for your visa abroad, you apply through the Spanish Consulate in your city of residence. Many Consulates require a larger amount of funds, so be sure to check your local consulate for details. You can probably find the information on their website.

Many people think that they have to demonstrate a large amount of seed capital to be approved for a Spanish entrepreneur visa. This is actually not true. You only have to demonstrate that you have an idea to start a business that is innovative and is of economic interest to Spain. These business are anything technology related, biotech, aerospace and renewable energy. The idea is that obtaining a Spanish entrepreneur visa will give you time to move to Spain, raise the funds and start the business.

Fast processing time

The Spanish bureaucracy does function, but it is notoriously slow. This is even more true in our post covid-19 world. Some visas can take months, and even years, to process. However, the Spanish entrepreneur visa is different. The Spanish immigration authorities are, at least theoretically, legally obliged to process a Spanish entrepreneur visa in 10 days. If they don’t give you a result during this time, they have to approve your application. That happens much more frequently than you would think.

You can bring your family members with you

You can bring your family members with you when you come to Spain. This includes your spouse, significant other, dependent children and dependent parents.

You don’t have to actually reside in Spain full-time

Many visas require you to remain in the Schengen Area for at least half the year. Visas awarded under Spain’s Entrepreneur visa don’t require this- you can spend as much, or as little, time in the country as you wish. However, many of our clients get settled in their beautiful new apartments, accustomed to the relaxed Spanish lifestyle and beautiful weather and decide they don’t want to leave at all!

Trickier things about the Spanish Entrepreneur Visa

The Spanish Entrepreneur Visa requires you to have an innovative idea

The main setback, for many people, is that you have to have an innovative business idea to be approved for a Spanish Entrepreneur Visa. That said, most ideas in the areas of technology, renewable resources, biotech, aerospace and energy do get approved because they are considered of strategic interest to the Spain.

You have to write a business plan

You must write a business plan, and create financial projections, fully detailing your idea. Although not hard to do, it does take time. And they want a traditional business plan, as opposed to the very short plans favored by the tech community. The give you a list of things to include. Our advice is to follow their instructions to the letter; they are not big on creativity. You also must get the business plan translated into Castellan by a sworn translator. That can run hundreds of dollars. Another thing not to skimp on. Don’t just get a friend of Mexico to do it or it will be rejected.

Are there other requirements, aside from the business plan?

Yes, like with other visas, both in Spain and other countries, you will need additional documentation.  This is the current list of what’s required:

• Completed visa application
• Proof you have paid the application fee. This is usually 80€ but some consulates may additional handling fees
• Passport photo.
• Valid, unexpired passport. It needs to be valid for at least a year, two years if you apply for the visa in Spain. You will need to provide copies of all the pages.
• Criminal record check certificate. In the US this must be issued by the FBI. It can take a very long time but you can find agencies to help you expedite it. We recommend Roca Authentications as they are very quick and efficient. They can also help you get an apostille on any official documents submitted. (Note: Madrid Estate is not affiliated with Roca but we have used their services many times and they have always been excellent).
• Proof you have the financial means to live in Spain. Bank statements are usually accepted.
• Proof that you have private health insurance that is valid in Spain. We recommend you use a Spanish carrier, like Sanitas. It is much cheaper than what you would get in the US. Once you obtain Spanish residency, and have a place to live with a legal lease, you will have access to the Spanish public healthcare system. Most people use a combination of the public and private systems.

Other visa options

Non-lucrative visa

There are two other excellent options for obtaining Spanish residency if you are not of an entrepreneurial nature. There is a non-lucrative visa if you have monthly income of at least  2,400€ per month, which translates to 28,800€ per year. If you have dependents, the amount increases an additional 7,200€ per year for each additional dependent. You will need to furnish bank statements to prove you have the required passive income. However, you are not allowed to work under this scheme.

Digital nomad visa

In 2023 Spain introduced its digital nomad visa. This is for people that earn at least 2,400€ per month from an employer. It allows you to earn up to 20% of your income from Spanish companies.

Which is the best option for me and my family?

This entirely depends upon your personal situation: there is something for most people. It just depends on your monthly income and how you obtain that income. If you are interested in starting your own business, the Entrepreneur visa is an excellent option. To learn more about your options, we invite you to read: How to obtain EU residency in a post golden visa world.

Madrid Estate can help with every step of relocating to Spain. We have a network of trusted lawyers, immigration experts, private bankers and immigration experts. To learn more about Madrid Estate’s relocation services, you can contact our founder directly at fabiana@madrid-estate.com or WhatsApp +34 680 306 337 to discuss your relocation plans.